All Forum Posts by: Account Closed

I was recently in a competitive bidding war for a house. In order to make it enticing, I increased the offer 5% more than the asking price and submitted without making any conditions; I figured I can adjust the offer later if they do accept. When do you lay down negotiations and conditions? In the offer or after the acceptance? I would like the seller to pay for the closing cost.

Do I need to hire a lawyer to read over the deed and other legal documents? Would my real estate agent be able to handle that kind of task?

Yes, all good advice. I definitely don't want to deal with headache.

It was very well established that I'm a first-time home buyer and will be an owner occupant to the Quicken loan banker. I will be renting and using the property as residential. He later admitted today that he hasn't seen much of FHA loan that allows more than 2 units, which doesn't jive with me too well.

Yes, I will be owner occupant.

Hola bigger pockets-ites,

So an agent at Quicken Loan today told me if I want to get a multi-family that is more than 2 units, I would have to put down 25% down payment as a rule. Has anyone heard of this? I'm qualified for FHA loan since I'm a first-time home buyer. I thought you only have to put down 5%, granted I live in Boston. Any ideas?

@Justin Silverio

Don't worry about this post. My interests in buying a multi-family for cash flow just got reinvigorated. I don't want a single family anymore. Thanks though.

Let's say if a property that I'm buying has tenants in them and they haven't been paying rent, what process do I have to take in order to evict them legally? Properties like this is cheaper but it comes with a catch. I want to know what I'm getting into. Thanks.

Let's say if a property that I'm buying has tenants in them and they haven't been paying rent, what process do I have to take in order to evict them legally? Properties like this is cheaper but it comes with a catch. I want to know what I'm getting into. Thanks.

Ed, that's a very good answer. Thanks @ed wood